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In reporting to its U.K. parent under IFRSs, how should Pharma account for the restructuring program for the year ended December 31, 2011? Alternative 1 - A restructuring plan exists as of December 31, 2011, under IFRSs. Pharma should record a provision for its restructuring plan for the year ended December 31, 2011. Alternative 2 - A restructuring plan does not exist as of December 31, 2011, under IFRSs. Pharma should not record a provision for its restructuring plan for the year ended December 31, 2011. 2. In reporting to its U.S.-based lender in accordance with U.S. GAAP, how should Pharma account for the restructuring program for the year ended December 31, 2011? Alternative 1 - A restructuring plan exists as of December 31, 2011, under U.S. GAAP. Pharma should record a provision for its restructuring plan for the year ended December 31, 2011. Alternative 2 - A restructuring plan does not exist as of December 31, 2011, under U.S. GAAP. Pharma should not record a provision for its restructuring plan for the year ended December 31, 2011. The accounting issue is whether Pharma Co. should record a provision for the planned restructuring, which includes relocation of an existing manufacturing operation, for the year ended December 31, 2011. A secondary issue is what costs would be included in the restructuring provision if it is determined that a liability should be recognized at year-end. Your solution must be supported by cites from the appropriate professional literature: both IAS pronouncements and FASB Codification.
When a firm purchases supplies for use in its business, and the cost of the supplies purchased is recorded as an asset, the following adjustment to recognize the cost of supplies used will probably be required:
george co. leased equipment to shapiro co. on july 1 2014 and properly recorded the sales-type lease at 64682 the
Determine the impact on the balance sheet accounts if the following information is not used to adjust the accounts of Mood Food Company for the month of January, 2012. Round answers to the nearest dollar.
a 1000 bond has a coupon of 6 percent and matures after 10 years.a. what would be the bonds price if comparable debt
Parrett Corp. acquired one hundred percent of Jones Inc. on January 1, 2009, at a price in excess of the subsidiary's fair value. On that date, Parrett's equipment (ten-year life) had a book value of $360,000 but a fair value of $480,000.
Determine the equivalent units in process for direct materials and conversion costs, assuming there was no beginning inventory.
From the lessee's viewpoint, what kind of lease is the above agreement? From the lessor's viewpoint, what kind of lease is the above agreement?
The cost of the 500 units in process at the end of the period in the first-in, first-out method is used to cost inventories was which of the following:
She has a large amount of income from other sources and is in the 33% marginal tax bracket. Would Tina's tax situation be better if XYZ were a proprietorship or a C-corporation? Explain why.
turner inc. began work on a 7000000 contract in 2010 to construct an office builidng. during 2010turner inc. incurred
If fixed costs are $250,000, the unit selling price is $125, and the unit variable costs are $73, what is the break-even sales (units)?
On January 1, 2007, the stockholders of Phillips and Solina agreed to a consolidation. Because FASB requires that one party be recognized as the acquirer and the other as the acquirer-Prepare the journal entries on the books of Phillips to record t..
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